Collection Deposit Account definition

Collection Deposit Account means a lockbox account of a Grantor maintained for the benefit of the Secured Parties with the Collateral Agent or with a Sub- Agent pursuant to a Lockbox Agreement.

Collection Deposit Account has the meaning assigned to such term in the Security Agreement.

Collection Deposit Account means (a) any Program Deposit Account and (b) any other Deposit Account that is not an Approved Deposit Account to which Accounts or the Proceeds thereof are paid or credited and, in each case of clauses (a) and (b) above, that is maintained by any Loan Party with a Deposit Account Bank. “Collection Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

Examples of Collection Deposit Account in a sentence

• Each Grantor shall use all reasonable efforts to cause each Account Debtor and every other Person identified in the preceding sentence to make all payments with respect to the Accounts included in the Collateral directly to such Collection Deposit Account.

• Each financial institution with which a Collection Deposit Account is maintained is referred to herein as a “Collection Deposit Bank”.

• Effective upon such notice, the Sub-Agent shall be entitled to rely on, and shall act in accordance with, all instructions given to it by the Collateral Agent with respect to the Collection Deposit Account.

• Effective upon such notice, the Sub-Agent shall be the Collateral Agent's agent for the purpose of holding and collecting such items and their Proceeds, and neither the Grantor nor any person or entity claiming by, through or under the Grantor shall have any right, title or interest in, or control over the use of, or any right to withdraw any amount from, the Collection Deposit Account, except that the Collateral Agent shall have the right to withdraw amounts from the Collection Deposit Account.

• The Company shall during the term of this Agreement maintain the existing cash management system including its network of Lockbox, Collection Deposit Account and Concentration Account pursuant to the Collection Bank Agreement and the Concentration Bank Agreement.

More Definitions of Collection Deposit Account

Collection Deposit Account includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

Collection Deposit Account means each collection deposit account maintained by the Borrower and the Subsidiary Guarantors pursuant to a Collection Deposit Letter Agreement (and prior to the execution of a Collection Deposit Letter Agreement with respect to such account, any other collection deposit accounts maintained by the Borrower and the Subsidiary Guarantors) into which the Borrower and the Subsidiary Guarantors will deposit all Daily Receipts.

Collection Deposit Account as defined in Section 5.17(a).

Collection Deposit Account means a lockbox account of a Grantor maintained for the benefit of the Secured Parties with the Collateral Agent or with a Sub-Agent pursuant to a Lockbox and Depository Agreement.

Collection Deposit Account means each Collection Deposit Account established pursuant to the Collection Bank Agreement.

Collection Deposit Account means, individually and/or collectively as the context may require, any U.S. Collection Deposit Account, any Canadian Collection Deposit Account, and any European Collection Deposit Account.

Collection Deposit Account means, individually and/or collectively as the context may require, the U.S. Collection Deposit Account and the Canadian Collection Deposit Account.